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Upload → Review transactions → Run Div 7A calculation
Start a Div 7A calculation
Upload the transaction history from your accounting software.
Uploading transaction history
Upload a CSV or XLSX transaction report exported from your accounting software.
The application is designed to recognise transaction exports from a variety of accounting programs.
For the most accurate Division 7A calculation, include the current-year transaction history for all relevant Division 7A loan accounts in the one upload.
Where separate Division 7A loan accounts exist for earlier income years, include those accounts in the same current-year transaction export.
The exported report should include opening balances, drawings, repayments, adjustments and closing balances, or enough transaction history for reconciliation.
Before running the calculation, review the imported transactions to confirm they have been classified correctly.
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Client summary
Imported transactions
Repayments
Current-year borrowings
Loan schedule
Minimum yearly repayment
Repayment allocation
Important information & disclaimer
Disclaimer
This calculator has been developed to assist with the calculation of Division 7A minimum yearly repayments and related accounting workpapers. It is provided as a guide only and should not be relied upon as tax, accounting or legal advice.
Calculations are based on the information entered by the user and the assumptions built into the application. The accuracy of the results depends on the completeness and correctness of the information provided.
Users should independently verify all calculations and ensure they are appropriate for the client’s circumstances. Professional judgement should always be exercised, having regard to the Income Tax Assessment Act 1936, including Division 7A, current ATO guidance, applicable benchmark interest rates and any subsequent legislative changes.
The developers accept no responsibility or liability for any loss, damage or tax consequences arising from the use of this application or reliance on its outputs.
Important: Journal entries are suggested examples only. They should be reviewed and adjusted to suit the client’s accounting records and specific circumstances before posting.